Thursday, October 11, 2012

A 1 % New Sales Tax is a Non Solution that Leaves a 99 % Transit Funding Shortfall.

A 1 % ( one)sales tax increase
would barley accomplish enough to pay for the administration of such a new
Toronto sales tax and most likely a tax that would increase on annually until
this new Transit Toronto Sales Tax reached 5 % or 8 % on top of the existing harmonized GST
of 13 %!

Thus realistically there is the possibility that not only
Torontonians but allOntarioresidents, tourists and
business could be paying 20% or more in a few short years for a combined new Toronto
Transit Sales Tax and existing harmonized GST.

We do not need new taxes,
rather better management of existing revenues and expenditures by our
politicians and unelected technocrats and bureaucrats.

What is urgently required is a guaranteed lasting and meaningful funding commitment to Toronto Transit, the largest and most used public city transit system in Canada, from both the federal and provincial governments that annually transfers 25% (twenty five percent) from existing fuel taxes presently collected by these two levels of governments on GAS, DIESEL, and OIL and amend the current Gas Tax Fund Agreement between the provincial and federal governments.

NO NEW

Info Up Date

TABLE 2.12 Summary of
Medium-Term Outlook
($ Billions)

Revenue

Interim2011–12

Plan2012–13

Outlook

2013–14

2014–15

Taxation Revenue

75.2

78.8

81.1

84.7

Personal Income Tax

24.2

25.8

27.2

28.7

Sales Tax

20.9

21.1

22.1

23.3

Corporations Tax

9.4

10.8

10.2

10.5

Ontario Health Premium

2.9

3.1

3.3

3.4

Education Property Tax

5.6

5.6

5.7

5.7

All Other Taxes

12.2

12.4

12.6

13.1

Government of Canada

21.4

21.8

23.0

23.5

Income from Government Business Enterprises

4.4

4.1

4.4

5.3

Other Non-Tax Revenue

8.3

7.6

7.6

7.5

Total Revenue

109.3

112.2

116.1

121.

Proposed revenue possibilities are:

Revenue source

Nominal rate

GTHA annual revenue

Personal income tax increase

1%

$1.4 billion

Sales tax

1%

$1.3 billion

Property tax

1%

$90 million

Payroll tax

1%

$500 million

Highway tolls

10 cents/KM

$1.5 billion

Fuel tax

10 cents

$500 million

Vehicle tax

$100

$300 million

Parking levy

$365 per space

$1.08 billion

Land transfer tax

1%

$600 million

Development charges

$5,000 per unit

$200 million

PS. As you can see NO mention or thought of a 1% transit tax on banks, unions or corporation?

1 comment:

In response to the few who have indicated to me that they do not dare to give their opinion or talk about politics and religion, let me respond this way.

I thank everyone for their comments but I am not one for political correctness nor worry that my rights of freedom of expression or speech carry a significant cost when those who preceded me gave the ultimate cost of their life for you and I to have and use that freedom.

We live in a society absolutely dependent on government and yet have cleverly arranged things so that almost no one understands governments and that my friends, is a clear prescription for disaster.

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About Me

Peter a co-founders of Ellis Clarke International one of the largest privately held facilitation firms in the world.

Peter Clarke believes integrity in professional and social settings is a key to success and has experience working with companies ranging in size from start-ups to multi-billion dollar international conglomerates.

Clarke himself is a leading global facilitator with experience in business and economics in the private & public sectors. Peter CLARKE as a committed, proud and determined individual; politically believes in Individualism.

Peter has the fortitude to tackle controversial issues from the human perspective as opposed to being simply a puppet for a political party or special interest groups.

" I strongly believe elected public office must ensure Openness, Financial Prudence and Accountability for efficient delivery of mandated services for taxpayers at the best competitive cost."

“And in Individual Freedoms, Privacy and Transparency by Corporations, Union leaders and Governments'.”

“All people are created equal and equally imperfect but we still have unequal laws created by unjust people,” Peter Clarke 2014.

“No one can control the passage of time, however one can control what one does with time as it passes, so in 2011 make every day one to be proud of,” Peter Clarke 2011.

“Money left in the hands of taxpayers is far more productive than putting it in the hands of career politicians, special interest groups or bureaucrats,” Peter Clarke 2011.

“All people are created equal but we still have unequal laws created by unjust people,” Peter Clarke 2010

“Rewarding failures at the cost of success, leads to continued failures at taxpayers’ expense.” Peter Clarke 2010

“All People are created equal and equally imperfect,” Peter CLARKE 2010

“Unlimited power controls the corruption and minds of those who influence it. “ Peter Clarke 2009